New York-based private equity giant Apollo Global Management considers takeover of Marks & Spencer
An American private equity giant is considering the takeover of Marks & Spencer.
New York-based Apollo Global Management reportedly considers it a good deal and that the market has undervalued its online delivery business with grocery giant Ocado, in which it bought a 50% stake in 2019 for £ 750million.
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However, it is not yet clear whether a recent surge in M&S stocks, which rose 24% on the basis of revised earnings forecasts, dampened Apollo’s appetite, the Sunday Times reported.
A private equity offer would likely attract close scrutiny as the company – for which model Rosie Huntington-Whiteley is a model – shows signs of rising.